By Hui-yong Yu - Bloomberg, Photograph by Daniel Acker - Bloomberg
Meg McKennon’s workload has surged since the Seattle real estate agent switched to managing residential properties. Now she gets paid for finding tenants instead of buyers -- an easier task as rentals soar.
"In the past two months, my business probably came close to tripling," said McKennon, who started management company Dwellings Seattle Real Estate in 2010 after selling houses for 15 years.
When a couple moved out of a two-bedroom house managed by McKennon in August, before the lease was up, she increased the monthly rent by $200 to $1,900 -- and still had her pick of applicants. "I could have rented it 10 times over," she said.